Russia has proposed the creation of unified standards for sustainable financing across the Shanghai Cooperation Organisation (SCO), in a bid to strengthen regional investment and better assess ESG and non-financial risks.
According to The Tribune, the initiative was presented by Nikita Kondratyev, director of multilateral economic cooperation and special projects at Russia’s Ministry of Economic Development, during a recent meeting of the SCO working group on investment in Tianjin, China. The proposal was also published on the Ministry’s official website.
Kondratyev said, “Sustainable projects are impossible without exhaustive tools for attracting capital. Our goal is to create an effective regional architecture of sustainable finance, which will take into account the peculiarities of doing business in the SCO countries.”
The discussion centred on how common standards could improve the investment climate across SCO member states, which include China, India, Kazakhstan, and others. Participating officials explored how harmonised frameworks might help attract capital into key sectors and offer a more stable and appealing investment environment.
According to TV BRICS, the session also addressed mechanisms for investor protection and ways to make financial flows more accessible to sustainable and strategic projects in the region. By aligning on sustainability metrics and risk evaluation models, SCO countries hope to reduce fragmentation in investment practices and improve long-term economic and environmental outcomes.
Russia’s proposals included sharing best practices on sustainable finance regulation, adapting ESG tools for local market contexts, and enhancing regional cooperation through the development of common infrastructure to support non-financial disclosures and impact measurement.
This move reflects a growing global trend toward sustainability-focused finance frameworks and demonstrates the increasing importance of coordinated regional action, especially among emerging economies seeking to boost resilience while pursuing economic growth.
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